In the chemical industry, the chemistry is right again

The chemical industry is growing double digits again. The latest figures from BASF, Bayer and Merck carry on hope. New jobs are not in sight.
Enlarge the image examining a BASF employee A BASF employee checks the color saturation of beta carotene solution: The chemical industry is growing double digits again. obs

The capacity utilization rate is already good. The plants that were shut down during the worst crisis months to run again. In the first half of 2010 production and sales of the German chemical industry are double-digit growth over the previous year - by 13 or 16 percent. The stocks appear to be largely eliminated, then the customers buy again reinforced. Ulrich Lehner, Henkel, the former CEO and current President of the Association of Chemical Industry (VCI), is optimistic: "We have against the bottom of the recession on the ground well made and are confident that we have a look in the months to come uphill." After all, the chemical industry is considered a leading indicator for the whole economy



In the positive image fit the latest figures from BASF, Bayer and Merck, have submitted all of today - as they had denied themselves - their quarterly reports. BASF reports for the first half of 2010, an increase of earnings before interest, taxes and exceptional items by 96 percent over the previous year, while sales climbed by 28 percent. Merck profits in its growing chemicals trading business primarily on the success of its liquid crystals, which are used for example in flat panel TVs. Bayer finally there is currently only in the chemistry right round. The other business areas to weaken health and plant protection currently sooner. Overall, Bayer had for the second quarter even a small profit decline from previous year show, it was a positive sign only in chemistry. In the first six months, the chemicals sector, Bayer MaterialScience a profit (before interest and taxes) of € 372 million, for the first six months of 2009 still had a negative result stood from minus 365 million euros. .

BASF and Merck feel so strongly that it has already ventured larger acquisitions again a few weeks ago, BASF acquired the chemical specialists from Cognis Monheim near Düsseldorf. - The value of 3.1 billion euros. In early March, Merck bought for € 5.3 billion the U.S. biotech and pharmaceutical suppliers Millipore.

Job boom slows degradation only

Of staff development in Germany, however, said none of the chemical bosses, who today submitted their figures. So far, the good performance of the sector the workforce reduction has only slowed down. In the first half of 2010 were employed in the more than 1,600 German chemical companies 414 000 workers - 1.5 percent less than last year. 2009 was still at the minus three percent. New staff are being recruited more in Asia.

Too much hope will VCI President Lehner can not pay for: yet was the pre-crisis reached again. Most experts expected in three to four years.

Already, the industry turns against higher energy taxes, as proposed by the Federal Ministry of Finance. This would cost in the next two years, 300 million euros, the industry association VCI has calculated. "The plan is a tax and therefore bad for the recovery. The economic engine begins to run straight back, as does Berlin on the brakes, "complains CEO Utz Tillmann.

With the problems of tomorrow must then deal with BASF and Bayer then new top manager. In both groups stand before Chief changes: In May of next year takes over at BASF Chief Financial Officer Kurt Bock the leadership of Juergen Hambrecht. Bayer moves in the fall: CEO Werner Wenning said goodbye, from 1 October Marijn Dekkers of the Netherlands will lead the company.